News
Jumia Makes Impact in Secondary Cities Despite Infrastructure Deficit
Low internet penetration, bad road network and infrastructure deficit were among the hindrances identified to forestall e-commerce success in its early days in Nigeria.
This was largely due to the fact that the majority of the country’s population lived in rural areas. This was – and still – the situation in major African markets. The only exceptions are North African countries, because they have over 70% urban population.
While internet penetration is fastly growing and driving online activities among the people in Nigeria, the road infrastructure needed to get items delivered at sub-hub locations are not growing at commensurate proportion.
Though ecommerce brands like the market leader, Jumia deploy initiatives like Jforce, remote pickup stations and delivery hubs to take the services closer to the people, there are still mitigating factors such as extremely bad roads that make it impossible for delivery agents to access certain locations.
Irene Emede runs Fitfeett Collections Logistics in Benin. She is excited that residents, despite availability of local markets, are making use of online services for groceries and other daily needs. “The interesting thing that really amazes me is despite the local markets we have around here, we still have customers ordering groceries like Rice, Groundnut oil and Spaghetti. And you still see them going there to order for their clothes,” she stated.
Irene however lamented the negative impact the state of roads in the area is having on delivery of items to customers. “One of the major challenges we have is our bad road.
For instance, the road that leads to Ugbiyoko to Ekenwa down to Barrack road is very bad and is not really helping us. Our delivery associates are not able to take their vehicles down there and for that reason, they go there for delivery by foot which is very stressful.
“So most of the items we deliver there are the little items that are easy to carry because they can’t carry large items on their heads simply because they want to make delivery and the bus drivers make things worse by charging them.”
Another negative side to this is the danger it poses to delivery agents, and safety of goods, considering the current state of insecurity across the country. (Name) explained that the company takes precaution by ensuring that items going to such locations are small and not high earned.
“Most of the items taken to that axis for delivery are not high-value items and they are very small. This is for them to be able to overcome the insecurity over there in case of any that may come up.”
Interestingly, the deplorable state of roads has also created a market for electric car jack in the area, selling among female car owners.
“We have this electric carjack that most of the females use simply because they don’t really have the strength to jack their car whenever their car breaks down on their way out,” she explained.
As e-commerce brands put in efforts to drive market penetration in Nigeria, a lot more will be achieved if relevant authorities can help with road infrastructure. E-commerce and logistics are inseparable and both occupy crucial space in the growth of the digital economy, which is one of the major economic goals of Nigeria.
DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.
In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
Tinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
Nigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
MTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
News1 day agoXora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty
General News1 day agoFG Secures Fresh $208.3m World Bank Loan for Cash Transfer
Telecom1 day agoNCC to Keynote Telecom Sector Sustainability Forum 7.0
News1 day agoHow Ponzi Scheme Victims can Seek Legal Remedies — Lawyers
News1 day agoPalmPay Nigeria Appoints Samuel Oluyemi as Chief Operating Officer
General News1 day agoSERAP Sues INEC over Alleged N800Bn 2027 Tinubu Campaign Fund
Telecom1 day agoNCC Advances Dig Once Policy, Engages Stakeholders on Cost-Based Framework for Duct Sharing
E-Business1 day agoKaigama,Catholic Archbishop of Abuja Warns against Misuse of AI